Bitcoin mining is the process of using computers to solve complex puzzles that verify and add transactions to Bitcoin’s public ledger; successful miners are rewarded with newly created bitcoins and transaction fees. It matters to investors because mining controls how new coins enter circulation, affects the security and reliability of the network, and creates a business model exposed to electricity costs, hardware investment and the coin’s market price—factors that influence profitability and company valuations.
ai/hpc hostingtechnical
AI/HPC hosting is a service that provides powerful computers, fast networking and storage specifically tuned to run artificial intelligence models and high-performance scientific or data-processing tasks. Investors care because it’s where companies rent the heavy-duty computing they need to develop, train and deploy advanced software; like renting a commercial kitchen for a restaurant, it determines speed, cost and capacity and can affect a business’s ability to scale, control expenses and compete.
microgridtechnical
A microgrid is a small, local electricity system that combines power sources (like solar panels, small generators) and storage (batteries) with controls so it can run either connected to the main utility grid or on its own during outages. For investors, microgrids matter because they reduce outage risk, can lower energy costs, enable new revenue streams (selling excess power or grid services), and reflect growing demand for resilient, decentralized energy infrastructure.
power purchase agreements (ppa)financial
A power purchase agreement (PPA) is a long-term contract in which a buyer agrees to purchase electricity from a specific generator at agreed prices and quantities over a set period. For investors, PPAs matter because they turn uncertain future energy sales into predictable cash flow—similar to a multi-year subscription—making projects easier to finance, valuing assets more reliably, and reducing exposure to volatile energy prices and demand swings.
retail electric provider (rep)financial
A retail electric provider (REP) is a company that sells electricity plans and customer services to homes and businesses, acting like a store that buys power from the wholesale market and packages it for end users. For investors, REPs matter because their profits depend on how well they manage buying costs, customer acquisition and retention, and pricing risk—similar to a grocer who must balance wholesale food prices, sales, and loyalty to stay profitable.
nvidia gpustechnical
NVIDIA GPUs are specialized computer chips designed to speed up graphics and large-scale calculations by handling many simple tasks at the same time, like a team of workers tackling different pieces of a big job. Investors watch them because they power high-growth areas such as artificial intelligence, cloud data centers, gaming, and self-driving technology; rising demand, supply constraints, or new competitors can quickly change revenue and profit outlooks for companies tied to that market.
data centertechnical
A data center is a secure facility that houses large numbers of computers, storage devices and networking gear that run, store and move digital information for businesses and online services. Investors treat data centers like modern warehouses: their occupancy, energy efficiency, connectivity and long-term service contracts drive steady revenue and capital needs, so changes in demand or costs can directly affect profitability and growth prospects.
high-performance computingtechnical
A cluster of very powerful computers, special chips and fast networks designed to tackle huge, complex calculations far faster than a normal PC — like replacing a single delivery van with a synchronized fleet to move a city’s worth of packages. For investors, high-performance computing matters because it enables faster product development, more accurate simulations and data analysis, and new revenue streams for hardware, software and services, making firms that supply or use it potentially more competitive and scalable.
ALBANY, N.Y.--(BUSINESS WIRE)--
Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its November 2025 project site-level operations, developments, and updates.
The Company has provided the following Corporate and Site Updates.
Q3’25 Earnings Released: Soluna reports strong third-quarter results, including 37% sequential revenue growth, gross profit rising to 28%, and cash reaching a record $60 million.
Dorothy 2 Completed: Our 48 MW expansion is now fully energized, increasing total operational capacity by 64% to 123 MW at our flagship West Texas campus.
Kati Groundbreaking Video Released: A new site video captures the momentum behind Project Kati, our 166 MW wind-powered data center now under construction.
Project Kati FAQ Published: A public-facing resource answering key questions about the project’s size, timeline, community benefits, and renewable-energy footprint.
New Blog — Beyond the Chip War: A deep dive into the energy and infrastructure race shaping the next era of AI and high-performance computing.
In the Press: Soluna featured in Power Mining Analysis, Water Tower Research, Blockspace, KVAQ-TV, the Rio Grande Valley Business Journal, and more.
D1A continues to operate at a high level, with coordination efforts underway in preparation for the 20 MW Canaan deployment expected in Q1-2026.
D1B had an additional 900 S19 XP miners deployed at the start of November, replacing the current S19J Pro fleet.
Project Dorothy 2 (48 MW, Bitcoin Hosting):
Final construction was completed, and the site has transitioned to operations with all customers fully deployed.
Project Sophie (25 MW, Bitcoin Hosting):
The deployment of a 3.3 MW partnership with KULR was completed at the beginning of November, and the site has remained at full capacity since then.
Project Kati 1 (83 MW Under Construction, Bitcoin Hosting):
Installation of the main network is underway in the office, which is fully framed.
Phase K1A 48 MW Galaxy is progressing, with 12 MW of containers installed and up to 24 MW underway.
The civil construction Phase K1B 35 MW Soluna MDCs have started, with the MDC concrete pads being poured, allowing the mechanical framing of the buildings to commence.
Project Kati 2 (83 MW+ Under Development, AI/HPC Hosting):
Test fit complete for initial data center design, which can accommodate the latest NVIDIA GPUs.
Architecture and electrical engineering firms have been identified for concept and detailed design.
The site has received significant interest from a variety of tenants, including Neocloud and Hyperscalers.
Project Grace (2 MW at Dorothy 2, Under Development, AI/HPC Hosting):
Advanced detailed engineering for Project Grace microgrid electrical design for AI load Integration.
Pipeline Highlights:
Finalizing Power Purchase Agreements (PPA) and Retail Electric Provider (REP) agreements for Projects Ellen and Hedy.
Work continues on PPA agreements for projects Annie, Gladys, Rosa, and Fei.
Customer Success:
Completed deployment of 48 MW across three new and expanding partnership agreements secured this year at Project Dorothy 2.
Completed the deployment of 7 MW across two new partnership agreements secured this year at Project Sophie.
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business and our expectations with respect to Project Dorothy 1A’s 20MW Canaan deployment, and other statements that are predictive in nature. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” and similar statements. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of our Annual Report on Form 10-K filed with the SEC on March 31, 2025. All forward-looking statements speak only as of the date on which they are made, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by law.
Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:
Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.
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